Belgium: Business confidence and consumer confidence improve in June
June 24, 2015
The business confidence index elaborated by the National Bank of Belgium (NBB) rose from May’s minus 4.9 points to minus 3.9 points in June. The reading overshot market expectations of a fall to minus 5.1 points and marked the highest reading since July 2011. According to the NBB, the result was due to a rise in confidence in the manufacturing and building industries, as well as in business-related services. However, a sharp deterioration in confidence was recorded in the trade sector.
The consumer confidence index elaborated by the NBB also rose from May’s minus 3.0 points to minus 2.0 points in June. The result marked the highest reading since May 2011. According to the NBB, the result came largely on the back of renewed optimism regarding macroeconomic developments in the country. In addition, consumers’ views on unemployment over the next 12 months improved in June.